Credit And Debt In Eighteenth Century England
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Credit And Debt In Eighteenth Century England
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Author : Alexander Wakelam
language : en
Publisher: Routledge
Release Date : 2020-06-15
Credit And Debt In Eighteenth Century England written by Alexander Wakelam and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-15 with Business & Economics categories.
Throughout the eighteenth century hundreds of thousands of men and women were cast into prison for failing to pay their debts. This apparently illogical system where debtors were kept away from their places of work remained popular with creditors into the nineteenth century even as Britain witnessed industrialisation, market growth, and the increasing sophistication of commerce, as the debtors’ prisons proved surprisingly effective. Due to insufficient early modern currency, almost every exchange was reliant upon the use of credit based upon personal reputation rather than defined collateral, making the lives of traders inherently precarious as they struggled to extract payments based on little more than promises. This book shows how traders turned to debtors’ prisons to give those promises defined consequences, the system functioning as a tool of coercive contract enforcement rather than oppression of the poor. Credit and Debt demonstrates for the first time the fundamental contribution of debt imprisonment to the early modern economy and reveals how traders made use of existing institutions to alleviate the instabilities of commerce in the context of unprecedented market growth. This book will be of interest to scholars and researchers in economic history and early modern British history.
The Character Of Credit
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Author : Margot C. Finn
language : en
Publisher: Cambridge University Press
Release Date : 2003-08-21
The Character Of Credit written by Margot C. Finn and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-08-21 with Business & Economics categories.
Table of contents
The Poverty Of Disaster
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Author : Tawny Paul
language : en
Publisher: Cambridge University Press
Release Date : 2019-10-17
The Poverty Of Disaster written by Tawny Paul and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-17 with History categories.
Examines debt insecurity in eighteenth-century Britain, a period of famously rapid economic growth when many people nevertheless experienced financial failure.
The Financial Revolution In England
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Author : P.G.M. Dickson
language : en
Publisher: Routledge
Release Date : 2017-03-02
The Financial Revolution In England written by P.G.M. Dickson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-02 with History categories.
Peter Dickson's important study of the origins and development of the system of public borrowing which enabled Great Britain to emerge as a world power in the eighteenth century has long been out of print. The present print-on-demand volume reprints the book in the 1993 version published by Gregg Revivals, which made significant alterations to the 1967 original. These included a new introduction reviewing recent work, and, in particular, 33 pages of detailed annotations and corrections, which, taken together, justified its status as a second edition.
Casualties Of Credit
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Author : Carl Wennerlind
language : en
Publisher: Harvard University Press
Release Date : 2011-11-30
Casualties Of Credit written by Carl Wennerlind and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-11-30 with History categories.
Modern credit, developed during the financial revolution of 1620–1720, laid the foundation for England’s political, military, and economic dominance in the eighteenth century. Possessed of a generally circulating credit currency, a modern national debt, and sophisticated financial markets, England developed a fiscal–military state that instilled fear in its foes and facilitated the first industrial revolution. Yet a number of casualties followed in the wake of this new system of credit. Not only was it precarious and prone to accidents, but it depended on trust, public opinion, and ultimately violence. Carl Wennerlind reconstructs the intellectual context within which the financial revolution was conceived. He traces how the discourse on credit evolved and responded to the Glorious Revolution, the Scientific Revolution, the founding of the Bank of England, the Great Recoinage, armed conflicts with Louis XIV, the Whig–Tory party wars, the formation of the public sphere, and England’s expanded role in the slave trade. Debates about credit engaged some of London’s most prominent turn-of-the-century intellectuals, including Daniel Defoe, John Locke, Isaac Newton, Jonathan Swift and Christopher Wren. Wennerlind guides us through these conversations, toward an understanding of how contemporaries viewed the precariousness of credit and the role of violence—war, enslavement, and executions—in the safeguarding of trust.
The Financial Revolution In England
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Author : Peter George Muir Dickson
language : en
Publisher: Routledge
Release Date : 1993
The Financial Revolution In England written by Peter George Muir Dickson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Debts, External categories.
Peter Dickson's important study of the origins and development of the system of public borrowing which enabled Great Britain to emerge as a world power in the eighteenth century has long been out of print. The present print-on-demand volume reprints the book in the 1993 version published by Gregg Revivals, which made significant alterations to the 1967 original. These included a new introduction reviewing recent work, and, in particular, 33 pages of detailed annotations and corrections, which, taken together, justified its status as a second edition.
Credit And Debt In Medieval England C 1180 C 1350
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Author : Phillipp R. Schofield
language : en
Publisher: Oxbow Books Limited
Release Date : 2002
Credit And Debt In Medieval England C 1180 C 1350 written by Phillipp R. Schofield and has been published by Oxbow Books Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Antiques & Collectibles categories.
The essays in this volume look at the mechanics of debt, the legal process, and its economics in early medieval England. Beneath the elevated plane of high politics, affairs of the Crown and international finance of the Middle Ages, lurked huge numbers of credit and debt transactions. The transactions and those who conducted them moved between social and economic worlds; merchants and traders, clerics and Jews, extending and receiving credit to and from their social superiors, equals and inferiors. These papers build upon an established tradition of approaches to the study of credit and debt in the Middle Ages, looking at the wealth of historical material, from registries of debt and legal records, to parliamentary roles and statues, merchant accounts, rents and leases, wills and probates. Four of the six papers in this volume were given at a conference on 'Credit and debt in medieval and early modern England' held in Oxford in 2000. The other two papers draw upon new important postgraduate theses. Contents: Introduction (Phillipp Schofield) ; Aspects of the law of debt, 1189-1307 (Paul Brand) ; Christian and Jewish lending patterns and financial dealings during the twelfth and thirteenth centuries (Robin R. Mundill) ; Some aspects of the business of statutory debt registries, 1283-1307 (Christopher McNall) ; The English parochial clergy as investors and creditors in the first half of the fourteenth century (Pamela Nightingale) ; Access to credit in the medieval English countryside (Phillipp Schofield) ; Creditors and debtors at Oakington, Cottenham and Dry Drayton (Cambridgeshire), 1291-1350 (Chris Briggs) .
The English Public Debt In The Eighteenth Century
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Author : Alice Clare Carter
language : en
Publisher:
Release Date : 1968
The English Public Debt In The Eighteenth Century written by Alice Clare Carter and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1968 with Debts, Public categories.
Empire Of Credit
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Author : Daniel Carey (Professor)
language : en
Publisher:
Release Date : 2007
Empire Of Credit written by Daniel Carey (Professor) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Comparative economics categories.
This work describes the massive expansion in public debt brought about during the 'Financial Revolution' in 18th-century Britain, Ireland, and America. It discusses how debt was financed and new credit instruments introduced for the first time in this period.
Prometheus Shackled
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Author : Peter Temin
language : en
Publisher: Oxford University Press
Release Date : 2013-01-02
Prometheus Shackled written by Peter Temin and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-02 with Business & Economics categories.
After 1688, Britain underwent a revolution in public finance, and the cost of borrowing declined sharply. Leading scholars have argued that easier credit for the government, made possible by better property-rights protection, lead to a rapid expansion of private credit. The Industrial Revolution, according to this view, is the result of the preceding revolution in public finance. In Prometheus Shackled, prominent economic historians Peter Temin and Hans-Joachim Voth examine this hypothesis using new, detailed archival data from 18th century banks. They conclude the opposite: the financial revolution led to an explosion of public debt, but it stifled private credit. This led to markedly slower growth in the English economy. Temin and Voth collected detailed data from several goldsmith banks: Child's, Gosling's, Freame and Gould, Hoare's, and Duncombe and Kent. The excellent records from Hoare's, founded by Sir Richard Hoare in 1672, offer particular insight. Numerous entrants into the banking business tried their hand at deposit-taking and lending in the early 17th century; few survived and fewer thrived. Hoare's and a small group of competitors did both. Temin and Voth chart the growth of the successful banks in the face of frequent wars and heavy-handed regulations. Their new data allows insights into the interaction between financial and economic development. Government regulations such as (a sharply lower) maximum interest rate caused severe misallocation of credit, and a misguided attempt to lighten the nation's debt burden led directly to the South Sea Bubble in 1720. Frequent wars caused banks to call in loans, resulting in a sharply slower economic growth rate. Based on detailed micro-data, the authors present conclusive evidence that wartime borrowing crowded out investment. Far from fostering economic development, England's financial revolution after 1688 did much to stifle it -- the Hanoverian "warfare state" was a key reason for slow growth during Britain's Industrial Revolution. Prometheus Shackled is a revealing new take on one of the most important periods of economic and financial development.